April saw a dramatic €16.24bn decline in Irish exports, largely driven by a drop in goods shipped to the US, which fell by €16bn. Despite this, April's exports remained €2.5bn ahead of the previous year's figures. The US, Ireland's largest trading partner, accounted for 44.5% of total trade, with pharmaceuticals making up a significant portion. Speculation on potential tariffs from the US on pharma products, amid stockpiling efforts, adds pressure to the market, as exports in this sector also declined.
The fall in the value of exports of goods in April compared with March 2025 is primarily driven by a decline in exports to the US. Exports of goods there fell by €16bn to €9.7bn in April compared with March, when they were €25.7bn.
We're going to be doing pharmaceuticals very soon. Speculation about the level of tariff that may be applied has hovered around 25pc.
Pharma has so far avoided a sectoral-specific tariff, although Mr Trump has again threatened to impose one.
Most of that - over 84pc of the total exports to the US - was classified as 'chemicals and related products', which includes medicines and pharmaceuticals.
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